Puerto de Antioquia (Puerto de Uraba) (IDBI-12378-01)

Countries
  • Colombia
Where the impacts of the investment may be experienced.
Specific Location
Antioquia
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 1, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Puerto Bahia Colombia de Uraba S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 112.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 650.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Oct 28, 2019

Disclosed by Bank Mar 22, 2019


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Project Description

According to the bank, the project consists of the design, construction, operation and maintenance of a greenfield multipurpose port facility located in the Gulf of Uraba, Antioquia, Colombia, under a 30-year concession contract (the "Project"). The Project will build up on existing and captive traffic (major shipping lines already call at Uraba despite the lack of modern port facilities), becoming the main outlet for Uraba's banana and fruit exports, which represent 75% of Colombian banana exports. Due to its location and logistic cost advantages, it is also expected that Puerto Antioquia will divert cargo in/out of Medellin (2nd largest city in Colombia and main international trade region in Colombia), in/out Bogota and their surrounding areas.

Investment Description
  • IDB Invest (IDBI)
Contact Information

Andres Bustos Isaza, CEO - + 57316 495-3409 -
abustos@piosas.com

 

ACCOUNTABILITY MECHANISM OF IADB

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).